Paces Neighborhood - Buckhead, Market Update
Posted by Ben Hirsh on Tuesday, September 1st, 2009 at 4:53pm.On the West side of Interstate 75 in Buckhead, and nestled against the curves of the Chattahoochee River, you will find the Buckhead Neighborhood of Paces. One of Buckhead's larger neighborhoods, Paces is defined by the fine estate homes on large acreage lots and also has plenty of charming mid-century modern and traditional brick ranches. In addition to the wonderful homes, Paces is home to some of Buckheads best private schools: Westminster Schools and the Lovett School. I personally call the Paces neighborhood home, and I could not be happier with it! Currently Paces has 97 homes for sale with prices ranging from $349,900 to $14,500,000 as illustrated by the chart below
| Active Paces Listings - 97 Properties Found | |||||||
| Bedrooms | Full Baths | Half Baths | List Price | Sale Price | |||
| Min | 3 | 2 | 0 | $ 349,900 | $ 0 | ||
| Avg | 5 | 5 | 1 | $ 2,392,947 | $ 0 | ||
| Max | 7 | 9 | 5 | $ 14,500,000 | $ 0 | ||
Just for fun, here are the photos of the current highest and lowest prices homes in this Buckhead Neghborhood:
Hmmm, I will reserve comment and let you decide which one you prefer.
Back to being serious:
Since January 1st of this year there have been 34 homes sold in the paces neighborhood as shown in the chart below. The average sale price has been $823,000.
Now for the surprising part. During the same exact period of 2008, there were 52 homes sold in Paces for an average price of $1.1 million. That shows a year over year drop of 26.1% in average sales price and 34.6% drop in the number of homes sold from 2008 to 2009.
| Sold in Pace Neighborhood 1/1/09 to 9/22/09 - 34 Properties Found | |||||||
| Bedrooms | Full Baths | Half Baths | List Price | Sale Price | Days on Market | ||
| Min | 2 | 2 | 0 | $ 264,900 | $ 270,105 | 0 | |
| Avg | 4 | 4 | 1 | $ 967,879 | $ 823,461 | 83 | |
| Max | 7 | 10 | 2 | $ 4,995,000 | $ 3,095,000 | 298 | |
The Paces Neighborhood in Buckhead is located in the wealthiest zip code in Metro Atlanta: 30327. It is home to the best private schools available in Buckhead. And it has beautiful homes that have stood the test of time. The temporary price drops that have been seen are due mostly to a glut of Foreclosures in Buckhead that have sold over the last year. These unprecedented market conditions in Buckhead make this an excellent opportunity for you to buy your dream home. Whether you decide to purchase a home in Paces, or one of the other beautiful neighborhoods of Buckhead, I would like to represent your interests as the expert on Buckhead real estate as your Buckhead real estate agent
!
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